Tech News for Your Bottom Line

Frequently covers crowdfunding, the sharing economy and social entrepreneurship.

July 21, 2014

The wristwatch has been endlessly reinvented, but this new high-tech take on the accessory ditches an essential component of most watches: the face.

The Ritot watch, which looks like a fitness band, projects the time from the side of the device onto the back of your hand. To activate the time display, a wearer touches the back of the watch or shakes his or her hand. For those having trouble picturing it, take a look at the video embedded below.

Fancy a pink projection to coordinate with your new sneakers? Maybe the next day, perhaps green would better match your pants? When the watch is charging, the projection color can be changed.

San Jose, Calif.-based Ritot looked to raise $50,000 with its crowdfunding campaign on Indiegogo, but since launching on July 7, the campaign has raised almost eight times that. As of today, the Ritot campaign was a bit more than $10,000 shy of $400,000. The Indiegogo campaign ends on August 21.

Individuals who donate $120 to the campaign will receive one Ritot watch, which is expected to retail for $160. The watch comes in several different color and style designs.

The Ritot can be synced with your phone, too. Currently, it works with Apple and Windows platforms. A user can see text messages, Facebook messages, weather alerts, Twitter messages, emails and bevy of other smartphone notifications on the back of his or her hand.

The Ritot team anticipates shipping projects to Indiegogo campaign contributors by the end of January into early February. That’s a long time from where we are now in July. One can only wonder what Ritot’s competition will be by then.

Before the SXSW panel Against All Odds: Overcoming Startup Challenges, panelists share a few insights on the benefits and limitations of new, innovative fundraising models, as well as how to survive in a heavily regulated industry.